Japan Said to Be Ready to Impose Bitcoin Rules

Japan is drawing up a plan to regulate Bitcoins, officials said Wednesday, including clauses the Nikkei business daily said would tax Bitcoin transactions and ban banks and securities firms from handling the digital currency. The...

"Various government agencies are doing their best to put the guidelines together,"

Related News

This has been a big week for Bitcoin. On Monday, the Senate Committee on Homeland Security and Governmental Affairs held the first-ever congressional hearing on Bitcoin. Later in the day, the currency's value reached an all-time high of more than $800. That has left a lot of people scratching their heads. What's Bitcoin? How do you use it? And why would anyone want to? Read on...

At the inaugural Bitcoin Fair, an evening of bitcoin evangelizing held this month in a packed-to-capacity Japantown ramen joint in San Francisco, the absence of one thing stood out. "I invited lots of women," bemoaned the event host, QuickCoin co-founder Nathan Lands. They apparently had not accepted. Sarah Blincoe, founder of the Santa Cruz startup Bitcoin Beauties, wants to...

Depending on whom you ask and when, Gavin Andresen is either bitcoin’s greatest champion or out to destroy the virtual currency. Andresen serves as the chief scientist of the Bitcoin Foundation, a group modeled after the Linux foundation that aims to provide some organization to bitcoin’s expansion, from establishing new ways to process transactions, to maintaining the...

Bitcoin’s attractiveness has also not been lost on the world’s criminal element who have used it as an untraceable method to buy and sell drugs and other illegal goods. By: Edward Barbour-Lacey, Dezan Shira & Associates Created in 2009, Bitcoins are a peer-to-peer virtual form of currency able to be bought or sold on online exchanges. Additionally, the coins can be “mined”...

I attended the first Bitcoin World Conference and Expo, held in a second-floor meeting room in a midtown Manhattan hotel, on a Saturday in August 2011. The virtual currency was powering an alternative economy worth around $81 million USD. Roughly 75 attendees, mostly long-haired programmers and pasty cypherpunks, came from as far as Switzerland. After the talks, we took a group...

As first pointed out by StreetInsider.com, on Monday the Winklevoss twins filed to issue Winklevoss Bitcoin Shares through the Winklevoss Bitcoin Trust, which when offered to the public will give investors exposure to Bitcoins through an ETF. The trust plans to issue one million shares at a price of $20.09, effectively raising $20.09 million. In addition to the news making for...

A streetwear clothing store in field will sell you a camouflage hoodie for about 0.10862 bitcoin. It’s received bitcoin for online orders, but so far no one has walked into the Jeffersons’ storefront and asked to pay with it. MITSU YASUKAWA/ STAFF PHOTOGRAPHER Steve Kalcanides is owner of Helen's Pizza in Jersey City, which takes bitcoin. At Helen’s Pizza in Jersey City, you...

Japan To Regulate And Tax Bitcoin Trades: Nikkei

published:04 Mar 2014

Japan To Regulate And Tax Bitcoin T

Japan To Regulate And Tax Bitcoin Trades: Nikkei

According to Nikkei, the Japanese government will set rules for trading bitcoin, including imposing taxes on transactions with the virtual currency. This will become the basis for guidelines applicabl...

Japan To Regulate And Tax BitCoin As A Commodity | Special Comments

published:06 Mar 2014

Japan To Regulate And Tax BitCoin A

Japan To Regulate And Tax BitCoin As A Commodity | Special Comments

As expected as soon as Bitcoin becomes any kind of threat to the Capitalist system, it will be regulated and turned into a commodity. This is a special upload as requested by Comrade Jason.
Jason`s C...

I Called It: Bitcoin Regulation Begins

published:07 Mar 2014

I Called It: Bitcoin Regulation Beg

I Called It: Bitcoin Regulation Begins

I said Bitcoin regulation was going to come through some kind of crisis. This is exactly what has happened with the demise of Mt. Gox and flexcoin. I honestly didn't think t would happen this fast.
S...

http://moneyandtech.com/July-11-news-update/
Rome's Attorney General Luigi Ciampoli gave a warning about Bitcoin on Thursday, urging for regulation to help Italian authorities track and protect again...

http://www.moneyandtech.com/apr21-news-update/
Start of this week with today's top news stories in Money & Tech:
Bitcoin's price has stabilized back up to around $500 dollars, following a recent plu...

Japan Plans To Regulate Bitcoin: Report

published:05 Mar 2014

Japan Plans To Regulate Bitcoin: Re

Japan Plans To Regulate Bitcoin: Report

Japan is taking steps to regulate bitcoin, and will introduce legislation to that effect soon, according to a report in the Nikkei Asian Review. But it won't be a currency, like yen or dollars — inste...

Top 4 Business Stories of the Day

published:05 Mar 2014

Top 4 Business Stories of the Day

Top 4 Business Stories of the Day

Relieved investors sent stocks sharply higher on Tuesday after Russia pulled troops back from the border of Ukraine. The rally pushed the Standard & Poor's 500 index to an all-time high, erasing steep...

Top 5 Business Stories of the Day

published:05 Mar 2014

Top 5 Business Stories of the Day

Top 5 Business Stories of the Day

Relieved investors sent stocks sharply higher on Tuesday after Russia pulled troops back from the border of Ukraine. The rally pushed the Standard & Poor's 500 index to an all-time high, erasing steep...

Bitcoin in Canada: A Legal and Regulatory Update by the Bitcoin Foundation Canada

published:17 Jul 2014

Bitcoin in Canada: A Legal and Regu

Bitcoin in Canada: A Legal and Regulatory Update by the Bitcoin Foundation Canada

EVENT HOSTED AT THE BITCOIN EMBASSY AND PRESENTED BY THE BITCOIN FOUNDATION CANADA
EVENT INFO:
Uncertainty and ambiguity regarding Bitcoin's legal and regulatory status in Canada has been an ongoing...

News Updates 3/17

published:18 Mar 2014

News Updates 3/17

News Updates 3/17

http://www.moneyandtech.com/mar17-news-update/
Here are today's top stories in Money & Tech:
OKCoin, which claims to be China's largest exchange, has just completed a $10 million dollar Series A fun...

The Bitcoin network came into existence on 3 January 2009 with the issuance of the first bitcoins. In the same month the creator, Satoshi Nakamoto, released the original Bitcoin client as open-source software. Prior to the invention of Bitcoin, electronic commerce systems could not securely operate without relying on a central authority to prevent double-spending. Nakamoto sidestepped this requirement for Bitcoin by employing a proof-of-work approach in a peer-to-peer network to reach consensus between peers on the validity of transactions. Bitcoin is a relatively new project under active development. As such, its developers caution that users should treat it as experimental software.

Japan To Regulate And Tax Bitcoin Trades: Nikkei

According to Nikkei, the Japanese government will set rules for trading bitcoin, including imposing taxes on transactions with the virtual currency. This will become the basis for guidelines applicable to similar currencies in future. Finance Minister Taro Aso said on Tuesday Japan is still trying to explain the collapse of Mt. Gox and figure out how the Tokyo-based company could lose nearly half a billion dollars in bitcoins. Gains from trading bitcoins on online exchanges, purchases made with bitcoins, and companies earning revenue from bitcoin transactions will be subject to Japanese tax.
http://feeds.reuters.com/~r/reuters/technologyNews/~3/20V6Dm_piE0/story01.htm
http://www.wochit.com

duration:0:44

published:04 Mar 2014

updated:04 Mar 2014

views:55

Japan To Regulate And Tax BitCoin As A Commodity | Special Comments

As expected as soon as Bitcoin becomes any kind of threat to the Capitalist system, it will be regulated and turned into a commodity. This is a special upload as requested by Comrade Jason.
Jason`s Channel:
http://www.youtube.com/user/MaoistRebelNews2
Japan to regulate Bitcoin trades, impose taxes
http://asia.nikkei.com/Politics-Economy/Policy-Politics/Japan-to-regulate-Bitcoin-trades-impose-taxes
Recording Shows Mizuho Pushed to End Dealings With Mt. Gox
http://online.wsj.com/news/articles/SB10001424052702304732804579420791991665968?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304732804579420791991665968.html
Mizuho to Mt. Gox: 'Close Your Account'
http://blogs.wsj.com/moneybeat/2014/03/05/mizuho-to-mt-gox-close-your-account/tab/comments/
For Bitcoin, Secure Future Might Need Oversight
http://www.nytimes.com/2014/03/06/technology/personaltech/for-bitcoin-a-secure-future-might-require-traditional-trappings.html?hpw&rref=technology&_r=0

duration:4:31

published:06 Mar 2014

updated:06 Mar 2014

views:152

I Called It: Bitcoin Regulation Begins

I said Bitcoin regulation was going to come through some kind of crisis. This is exactly what has happened with the demise of Mt. Gox and flexcoin. I honestly didn't think t would happen this fast.
Sources:
Bitcoin bank folds after hacker robbery, RT
http://rt.com/business/bitcoin-flexcoin-hack-closes-870/
Bitcoin Is as Good as Gold. That's Bad., Slate
http://www.slate.com/blogs/future_tense/2014/03/03/mt_gox_collapse_bitcoin_is_as_good_as_gold_and_that_s_bad.html
Japan to regulate Bitcoin trades, impose taxes, Nikkei Asain Review
http://asia.nikkei.com/Politics-Economy/Policy-Politics/Japan-to-regulate-Bitcoin-trades-impose-taxes
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A BITCOIN to be WORTH $500,000 - $1MILLION USD Within 10 Years Says BITCOIN WALLET CEO
One of the two exchanges, Shenzhen-based BTC38, is discontinuing bank transfers, saying it has received news of the central bank's intentions from banks and third-party platforms.
The other, Shanghai-based FXBTC, is ending deposits effectively now and suspending bank-card withdrawals on several banks urging it to cancel accounts as soon as possible. xapo wallet vault
The exchanges are less well-known than BTC China, Huobi and OKCoin — three of the most commonly used platforms by local investors — authorities' outlawing the digital currency completely.
Is bitcoin inching closer to widespread acceptance?
If you're trying to sell some bitcoins before the tax deadline — or just want to use them in your everyday life — it's becoming much easier. We're starting to get press release after press release about a new company that accepts the cryptocurrency. This week it included the Chicago Sun-Times, the first newspaper to jump on board, and the Sacramento Kings, which released a bitcoin-only store for its merchandise. Virtual currency even became its own section of goods on Ebay (although it's not an approved payment method yet). The largest company to come on board this week was the Square marketplace. Alleged Bitcoin Founder Did Classified Work For U.S. Military Newsweek writer asks if Satoshi Nakamoto is working on behalf of governmen
confidence in the currency's value. No business wants to accept bitcoin then immediately have the currency be worth $10 less a minute later. The products that are going to be more attractive to entrepreneurs are the ones that immediately convert bitcoin into whatever the businesses preferred tender is — at least until the market fluctuates less frequently.
Although many Bitcoiners are hoping for more large retailers like TigerDirect and Overstock to adopt Bitcoin, it may have a negative impact on the BTC price as these retailers will most likely convert 90% of their coins to cash — putting additional selling pressure on Bitcoin.
While merchants are starting to trust the cryptocurrency, the bitcoin community is going to have to rely the consumers to start spending and storing their money in the cryptocurrency, and not just immediately cash out.
Buffett's comments and why he made them
Buffett said bitcoin is essentially an updated version of writing a check or sending someone a money order. In other words, it's simply a new, more efficient way of transmitting money. He's not discounting the usefulness of bitcoin to make payments and transfer money, just the intrinsic value it supposedly has as an investment.
Plans for eBay Bitcoin Exchanger
CEO of eBay, John Donahoe, has publicly expressed interest with the digital currency industry. There have also been plans for eBay to become more involved with currencies like bitcoin. "PayPal is building a digital wallet that can take multiple types of currency."
bitcoin "bitcoin wallet" "virtual currency" xapo "xapo wallet" vault gold silver CEO business future inspire inspiration cryptocurrency currency usd dollar forex "forex trading" inflation "gold confiscation" "gold coin" "sell gold" "bitcoin exchange" "bitcoin cloud hashing" price value global trading electronic tech technology trust "bank account" bank investment investing "developing world" savings banking volatile currency trade attraction deflation bubble china u.s. "united states" usa america government tax regulation regulate IRS news media 2014 "agenda nwo" alex jones infowars max keiser jim rogers lindsey williams rant gerald celente trends in the news louis farrakhan coast to coast am we are change glenn beck gold standard mature maturing recognized up down emerging asset wealth
It was later discovered that eBay had filed a patent application with the United States Patent & Trademark Office, back in July 2013, which had mentions of bitcoin. The patent speaks of an eBay bitcoin exchanger type of system, which can be used to accept any form of currency. singapore Flexcoin, which billed itself as a "Bitcoin bank," has shut down after the theft of 896 Bitcoins, which were worth roughly $622,000.
This is just one more instance of a Bitcoin company having to shutter its doors in recent weeks. Mt. Gox was certainly the loudest to go, even seeing protests in front of its Japan headquarters.
TSA after he opted out of going through a body scanner. The official reason for further interrogation, according to the screeners, was "We saw Bitcoin in your bag and need to check." For anyone living under a rock, Bitcoin is a virtual currency. It does not exist in physical form. Saying you had seen bitcoin in a bag would be like saying you had seen email in a bag -- it makes no sense.
Bitcoin could get boost from Square and Stripe moves

http://moneyandtech.com/July-11-news-update/
Rome's Attorney General Luigi Ciampoli gave a warning about Bitcoin on Thursday, urging for regulation to help Italian authorities track and protect against money laundering, financing of terrorism, and mafia activities. At the same time, Colonel Albert Reda of Italy's Guardia di Finanza financial police authority spoke up about the risks with Bitcoin's volatility and anonymity, calling it a "potentially powerful tool for money laundering, drug trafficking and arms trafficking."
Following their recent crackdown on an illegal digital currency exchange, France authorities have announced that they plan to implement new Bitcoin transparency regulations by year's end for all related financial institutions. What's more, the country's finance ministry has also added that they have updated some of their tax regulations to encompass Bitcoin sales, which will be subject to a capital gains tax, similar to the situation in the US and UK.
Shortly after announcing plans to become the first Bitcoin Isle, the island of Jersey has approved the launch of its first regulated Bitcoin fund, The Global Advisors Bitcoin Investment Fund. Setup by Global Advisors Jersey Limited, and approved by the Jersey Financial Services Commission, the fund has garnered strong support from the island's assistant chief minister of financial services, Senator Philip Ozouf, who says that "Fintech, which broadly defines the emerging digital industry in finance, is a sector that I believe holds significant opportunities for Jersey."
Japan's new Bitcoin business advocacy group, The Japan Authority of Digital Asset, has launched with the government's explicit support, aiming to help establish standards and codes of conduct for its member organizations. The group was formed by Japanese parliament member Mineyuki Fukuda and his IT Committee, after consulting with Japan's Financial Services Authority and speaking with the country's resident Bitcoin ATM companies and exchanges, which include digital currency exchange Kraken and its parent company Payward Inc.
Major music streaming service Grooveshark has started accepting Bitcoin for both their monthly and annual subscriptions, after receiving several requests from users to add the digital currency as a payment option. No official statement has yet been heard from the company, but several forum reports of the new payment option have begun surfacing from Grooveshark users in response to their requests.
Prominent porn video site xHamster, the 56th most popular website on the internet, has also reportedly started accepting Bitcoin as a payment option, which has sparked a slightly Not Safe For Work thread on the Bitcoin subreddit.
Bitcoin entrepreneur and nextcoin investor Androklis Polymenis is offering a 500 bitcoin bounty for the return of his lost 1170 bitcoin and 6 million nextcoin, which were stolen when a hacker posed as Polymenis on bitcoin exchange Bter.com and requested the removal of the funds.
Money & Tech is debuting a new series of educational video clips on The More You Know Bitcoin, to offer you more explanation and insight into the fascinating, and often complex, world of digital currency. You can find our first series of these videos at Moneyandtech.com/TMYK-Bitcoin.
http://moneyandtech.com/July-11-news-update/

http://www.moneyandtech.com/apr21-news-update/
Start of this week with today's top news stories in Money & Tech:
Bitcoin's price has stabilized back up to around $500 dollars, following a recent plunge to below $400 due likely to concerns over regulatory uncertainty in China, as well as extensive tax implications in the US. As trust in the bitcoin ecosystem returns, Sir Richard Branson reaffirmed his commitment to the digital currency in an article with Delta's SKY Magazine, calling it "the pioneer of a global currency."
Japan's first bitcoin ATM arrived at the warehouse of its new owners, import company Raimu, on Thursday. The company plans to install the Robocoin machine in Suzuka City soon. Raimu CEO Motonori Kan is optimistic, despite the recent blows to bitcoin's reputation, saying that they are excited "to be a part of one of the biggest inventions in history."
Ossian Smyth has become Ireland's first bitcoin-friendly politician, accepting the digital currency for his campaign in the upcoming local elections in seaside Irish town Dun Laoghaire next month. The Green Party candidate is running on a platform for greater political transparency, promising to publish every document or contract of public interest once he is in office, and praising bitcoin as "one of the most transparent ways of receiving donations."
"La Maison du Bitcoin" - which means "The House of Bitcoin" - will be France's first bitcoin center with its grand opening in the heart of Paris on May 13th. The center will be open weekdays to offer co-working space, weekly pitches and workshops to bitcoin-related startups, and will be the home for local bitcoin meetups, as well as its own bitcoin miner and bitcoin ATM.
In Cleveland Heights, Ohio, Cedar-Lee Road will soon become the second "Bitcoin Boulevard" in the world, following in The Netherlands' footsteps. Starting May 1, a total of 8 local businesses - including Sweetie Fry, Mitchell's Fine Chocolates, The Tavern Company, and Parnell's Pub - will all begin to accepting bitcoin.
Sunlot Holdings Ltd, the group of interested Mt. Gox investors, has launched a final attempt to save the bankrupt exchange. Their new website SaveGox.com asks for support from creditors to help prevent liquidation, and instead convince the Tokyo Court to reconsider the proposal for rehabilitation. The group fears that liquidation "would be good neither for Mt. Gox creditors nor bitcoin's reputation with the general public and regulators," hoping instead to "provide restitution to customers and restore faith in the digital currency." Members of the group have already confirmed that creditors owning over 70 percent of the exchange's lost bitcoins are in support of the revival plan.
The New York City Bitcoin Center will be home to a bitcoin themed music festival on Saturday, May 3rd, led by local New York musician Ross Mintzer. The event will be a celebration of humanity, music and cryptocurrency, intended "to create a platform for digital currency enthusiasts to bond." As Mintzer puts it, "In music we have freedom of expression. Bitcoin gives us that same freedom in finance, but I believe that's only the beginning."
CoSign Coin has launched their new Secure Bitcoin Escrow service, which uses multi-signature wallets and transactions to offer users protection from theft and fraud. The company has designed their new escrow service "to be as intuitive and user-friendly as possible," with the goal of bringing confident and secure multi-signature transactions into mainstream use.
We also got to sit down with CrowdCurity CEO Jacob Hansen recently to talk about his crowdsourced IT startup and their efforts to improve web security with cryptocurrency. Find that video here shortly.
Watch this news episode on the Money & Tech website at http://www.moneyandtech.com/apr21-news-update/

duration:3:47

published:22 Apr 2014

updated:22 Apr 2014

views:128

Japan Plans To Regulate Bitcoin: Report

Japan is taking steps to regulate bitcoin, and will introduce legislation to that effect soon, according to a report in the Nikkei Asian Review. But it won't be a currency, like yen or dollars — instead, bitcoins will be treated as a tradeable commodity like gold or oil. How Japan plans to enforce these regulations, no one knows for sure.
After the largest bitcoin exchange, Tokyo-based Mt. Gox, collapsed with potentially hundreds of millions of dollars unaccounted for, a Japanese lawmaker asked the government to make its position on the virtual currency clear.
http://feeds.nbcnews.com/c/35002/f/663303/s/37cb0cfa/sc/21/l/0L0Snbcnews0N0Ctech0Cinternet0Cjapan0Eplans0Eregulate0Ebitcoin0Ereport0En44456/story01.htm
http://www.wochit.com

http://moneyandtech.com/June-18-news-update/
US Bankruptcy Judge Stacey Jernigan officially approved Chapter 15 US bankruptcy protection for collapsed Bitcoin exchange Mt. Gox in a Dallas court on Tuesday. This decision will allow proceedings to continue on to Japan, where the company's Japanese bankruptcy trustee Nobuaki Kobayashi will now have more freedom to exert influence on the case, gather and examine evidence and assets, and vet any revival plans. This includes the proposal from Sunlot Holdings, as well as rumored bidding interest from Bitcoin incubator CoinLab and Chinese exchange OKCoin.
As the US Marshals Service prepares to auction off 30,000 bitcoins previously confiscated from the Silk Road anonymous online market, the names of several potential buyers, including members of the bitcoin and investment communities, has been leaked via an email update from a government staffer, who accidentally CC'ed rather than BCC'ed the list of interested bidders. The US Marshal office has meanwhile been preparing the confiscated bitcoins for sale, first putting them through a mixing service common in money laundering that effectively cleans the once illegal bitcoins by making their origins untraceable, turning them into quote "washed" bitcoins.
UK thinktank The Institute of Economic Affairs published a paper today entitled 'New Private Monies -- A Bit-Part Player?'. The report recommends that the UK privatise the British pound and replace it with cryptocurrencies, which otherwise are unlikely to take the place of the local currency. The thinktank goes on to speculate that Bitcoin will "open the floodgates to a tidal wave of private money" saying, "A weakened ability to store value, growing restrictions on finance, oppressive taxes and a lack of financial privacy have resulted in growing frustration at state controlled money. The superior nature of private currencies combined with the financial freedom they offer has led to their increasing attraction."
Sweden's central bank Sveriges Riksbank released an economic commentary on Tuesday entitled "Have virtual currencies affected the retail payments market?" The report outlined the basics behind virtual currencies such as Bitcoin, explaining both their current regulatory limitations and consumer risks, as well as their innovation and opportunity to make cross-border payments simpler, faster and cheaper. The central bank also allowed that the limited data available on such digital currencies may underestimate the use of Bitcoin in Sweden, but concluded that it is still significantly lower than other traditional forms of payment, deeming its current impact in Sweden inconsequential.
This year's NCAA St. Petersburg Bowl will be renamed to the "Bitcoin St. Petersburg Bowl," thanks to a title sponsorship from Bitcoin payments processor BitPay. BitPay CEO Tony Gallippi sees this as an opportunity to continue moving Bitcoin into the mainstream, saying "College football fans and the bitcoin community represent a similar target demographic -- tech-savvy men between the ages of 18 and 40." Tickets, merchandise and concessions will also be on sale for bitcoin at the annual college football postseason game, which will take place in St. Petersburg, Florida on December 26th.
Meanwhile during the ongoing World Cup, digital currency startup SnapCard is running a competition with a grand prize of 50 bitcoins to anybody who can complete a perfect bracket for the games. The odds of winning are 1 in 274,877,906,944. So if there is no winner, SnapCard will still offer a consolation prize to the longest lasting brackets, awarding them 1 bitcoin, half a bitcoin, and quarters of a bitcoin respectively. The window to enter closes on Thursday, and requires a $75 purchase on SnapCard's website to enter.
We sat down with Pheeva Wallet founders Lamar Wilson and Lafe Taylor from Love Will and the Cycle of Goodness Cooperative to talk about their mission to bring sexy back to Bitcoin hot wallets. Watch that interview at http://moneyandtech.com/lamar-wilson-lafe-taylor-pheeva.
http://moneyandtech.com/June-18-news-update/

duration:4:37

published:21 Jun 2014

updated:21 Jun 2014

views:127

Top 4 Business Stories of the Day

Relieved investors sent stocks sharply higher on Tuesday after Russia pulled troops back from the border of Ukraine. The rally pushed the Standard & Poor's 500 index to an all-time high, erasing steep losses from Monday, when investors feared that the confrontation between Russia and Ukraine would escalate or even lead to a war. Traders were relieved when Russian President Vladimir Putin ordered troops participating in military exercises near Ukraine to return to their bases. The S&P 500 rose 28.18 points, or 1.53 percent, to close at 1,873.91. It was the biggest gain for the benchmark index since October.
Facebook is reportedly in talks with solar drone maker Titan Aerospace to buy the company for $60 million. The move could help Facebook, one of the major backers of Internet.org, achieve one of the initiative's goals: to bring internet connectivity to the world. Titan's atmospheric drones are solar-powered and can run for up to five years without landing. The deal, first reported in TechCrunch, means that Facebook could use the "atmospheric satellites" - a distinction that suggests they would fly above FAA-regulated space, to increase regional connectivity. The drones could also be used for weather monitoring or earth imaging.
President Barack Obama sent Congress a $3.9 trillion budget Tuesday that would funnel money into road building, education and other economy-bolstering programs. The move handed Democrats a playbook for their election-year themes of creating jobs and narrowing the income gap between rich and poor. The blueprint for fiscal 2015, which begins Oct. 1, is laden with populist proposals designed to fortify those goals. It includes new spending for pre-school education and job training, expanded tax credits for 13.5 million low-income workers without children and more than $1 trillion in higher taxes over the next decade, mostly for the wealthiest Americans and corporations.
According to Nikkei, the Japanese government will set rules for trading bitcoin, including imposing taxes on transactions with the virtual currency. This will become the basis for guidelines applicable to similar currencies in future. Finance Minister Taro Aso said on Tuesday Japan is still trying to explain the collapse of Mt. Gox and figure out how the Tokyo-based company could lose nearly half a billion dollars in bitcoins. Gains from trading bitcoins on online exchanges, purchases made with bitcoins, and companies earning revenue from bitcoin transactions will be subject to Japanese tax.
http://news.yahoo.com/stocks-rally-tensions-ease-ukraine-224022474--finance.html
http://www.sfgate.com/business/article/Facebook-Titan-Aerospace-talk-deal-5288849.php
http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2014-03-04-Obama-Budget/id-71dc55d74eb249c197db5f63d247c3f2
http://feeds.reuters.com/~r/reuters/technologyNews/~3/20V6Dm_piE0/story01.htm
http://www.wochit.com

duration:2:51

published:05 Mar 2014

updated:05 Mar 2014

views:9

Top 5 Business Stories of the Day

Relieved investors sent stocks sharply higher on Tuesday after Russia pulled troops back from the border of Ukraine. The rally pushed the Standard & Poor's 500 index to an all-time high, erasing steep losses from Monday, when investors feared that the confrontation between Russia and Ukraine would escalate or even lead to a war. Traders were relieved when Russian President Vladimir Putin ordered troops participating in military exercises near Ukraine to return to their bases. The S&P 500 rose 28.18 points, or 1.53 percent, to close at 1,873.91. It was the biggest gain for the benchmark index since October.
Facebook is reportedly in talks with solar drone maker Titan Aerospace to buy the company for $60 million. The move could help Facebook, one of the major backers of Internet.org, achieve one of the initiative's goals: to bring internet connectivity to the world. Titan's atmospheric drones are solar-powered and can run for up to five years without landing. The deal, first reported in TechCrunch, means that Facebook could use the "atmospheric satellites" - a distinction that suggests they would fly above FAA-regulated space, to increase regional connectivity. The drones could also be used for weather monitoring or earth imaging.
Apple Incorporated said Chief Financial Officer Peter Oppenheimer plans to leave the company at the end of September, ending a roughly 18-year career at the tech giant. Luca Maestri, Apple's vice president of finance and corporate controller, will replace Mr. Oppenheimer as finance chief. Mr. Oppenheimer will transition the role to Mr. Maestri in June, to allow for a smooth change.
President Barack Obama sent Congress a $3.9 trillion budget Tuesday that would funnel money into road building, education and other economy-bolstering programs. The move handed Democrats a playbook for their election-year themes of creating jobs and narrowing the income gap between rich and poor. The blueprint for fiscal 2015, which begins Oct. 1, is laden with populist proposals designed to fortify those goals. It includes new spending for pre-school education and job training, expanded tax credits for 13.5 million low-income workers without children and more than $1 trillion in higher taxes over the next decade, mostly for the wealthiest Americans and corporations.
According to Nikkei, the Japanese government will set rules for trading bitcoin, including imposing taxes on transactions with the virtual currency. This will become the basis for guidelines applicable to similar currencies in future. Finance Minister Taro Aso said on Tuesday Japan is still trying to explain the collapse of Mt. Gox and figure out how the Tokyo-based company could lose nearly half a billion dollars in bitcoins. Gains from trading bitcoins on online exchanges, purchases made with bitcoins, and companies earning revenue from bitcoin transactions will be subject to Japanese tax.
http://news.yahoo.com/stocks-rally-tensions-ease-ukraine-224022474--finance.html
http://www.sfgate.com/business/article/Facebook-Titan-Aerospace-talk-deal-5288849.php
http://online.wsj.com/article/SB10001424052702304815004579418901498086292.html?mod=rss_whats_news_us
http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2014-03-04-Obama-Budget/id-71dc55d74eb249c197db5f63d247c3f2
http://feeds.reuters.com/~r/reuters/technologyNews/~3/20V6Dm_piE0/story01.htm
http://www.wochit.com

duration:3:14

published:05 Mar 2014

updated:05 Mar 2014

views:12

BITCOIN IS NOW THE MOST REGULATED CURRENCY IN THE WORLD -------- Max Keiser

FOR LATEST BREAKING NEWS, CONSPIRACIES & GLOBAL TRENDS, CLICK HERE TO SUBSCRIBE - THANK YOU
http://www.youtube.com/bigeyenews
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Jon Corzine of bitcoin trying to concern troll his way into a bailout and failing. And while 6 percent of all bitcoins allegedly went missing via MtGox, every year 3 percent of China's GDP goes missing into property and bank accounts in the US, Canada and Australia. They also look at a recent study that friends of Timothy Geithner were rewarded by the stock market as much as friends of Suharto were in Indonesia. In the second half, Max interviews Charles Hoskinson, a cryptographer and one of the people behind a new crypto start up called Ethereum. They also discuss cryptography, bitcoin and maxcoin.
From Wall Street, gold price and US finance to conspiracies, latest global news, Alex Jones, Gerald Celente, David Icke Illuminati, a potential World War 3, Elite government cover - ups and much more, Bigeyenews is the place to be.

duration:2:55

published:01 Mar 2014

updated:01 Mar 2014

views:3978

Bitcoin in Canada: A Legal and Regulatory Update by the Bitcoin Foundation Canada

News Updates 3/17

http://www.moneyandtech.com/mar17-news-update/
Here are today's top stories in Money & Tech:
OKCoin, which claims to be China's largest exchange, has just completed a $10 million dollar Series A funding round, led by some of China's most prominent investors and venture capital firms, who clearly remain bullish on bitcoin, despite China's recent regulatory crackdown on digital currencies. That said, part of this new investment will be used to help expand OKCoin's operations outside of China, where the landscape and government regulations are more supportive.
Also in regulatory news, the US Commodity Futures Trading Commission (CFTC) is investigating whether it has the authority to regulate bitcoin and other digital currencies under the same rules as commodities markets, and has started with "an internal discussion at the staff level" according to acting chairman Mark Wetjen.
The Australian Tax Office has released a letter with new taxation guidelines to one of its local bitcoin entrepreneurs, specifying that income and profits derived from bitcoin transactions are taxable, and subject to both the Goods and Services Tax (or GST) and capital gains tax. Though this may seem like a lot of added bureaucracy, this actually puts Australia on par with Singapore in a rather tolerant stance on bitcoin, particularly in comparison to the reactions of other governments around the world.
In Mt. Gox updates, a new class action lawsuit was proposed Friday to seek $500 million in compensation for Canadians who had stolen funds in Mt Gox. Both this Canadian lawsuit, as well as the class action lawsuit already filed in the US, have named the Japanese Mizuho Bank as a defendant for allegedly aiding in fraud by providing banking services to the exchange.
During a CNBC interview on Friday, Warren Buffett spoke up once again about bitcoin, telling people to "stay away from it," because "it's a mirage basically... [and] the idea that it has intrinsic value is a joke." However, Buffett also demonstrated a fundamental lack of understanding about bitcoin in his speech, oversimplifying its definition as "a method of transmitting money" and equating it to a check or "very fast money order."
Dorian Nakamoto is taking serious steps to deny his involvement in bitcoin, hiring a lawyer and releasing a statement this morning to clear his name, saying quote "I did not create, invent, or otherwise work on Bitcoin. I unconditionally deny the Newsweek report." He adds that this will be his last public statement on the matter, and asks that others now respect his privacy.
In Bitcoin merchant news, TigerDirect is now the second major online superstore to pass the $1million mark in total bitcoin sales, less than two months after it started accepting the digital currency with BitPay. Overstock had previously reached that milestone on March 4th.
The Philippines' second largest daily deals site MetroDeal is now accepting bitcoin for its discount vouchers and coupons. The company runs limited time offers in a similar model to US-based sites Groupon and LivingSocial, and has become widely popular among the Philippines' 33 million active Internet users, which could make it a very effective tool for raising awareness and adoption of bitcoin there.
In emerging alt coin news, three developers have created Potcoin, a new cryptocurrency based on Bitcoin that is meant to defy conventional banks, money laundering authorities, and the DEA in order to build out a safer way for marijuana dispensaries to deal with daily transactions. Other new alt coins are experiencing their own growing pains, with Bitcoin, Litecoin, and Dogecoin all seeing recent price slumps.
Newly announced Spaincoin, which has been created to help ease financial woes in Spain, has seen a large uptick in value, while Auroracoin, the new alt coin intended to help the Icelandic people, is seeing uncertainty and concerns from Icelandic parliament leading up its planned public distribution next week. And Dogecoin just set a new record for the largest amount ever tipped on Twitter, with recent donations in the tens of thousands being sent via @tipdoge to campaigns like Doge4Water.
Money & Tech attended a recent San Francisco Bitcoin Meetup at 20Mission. We'll have videos from that event available here soon.
Watch this news episode on the Money & Tech website at http://www.moneyandtech.com/mar17-news-update/

BITCOIN WONT REPLACE the USD but will be the INTERNET CURRENCY for the WORLD

PLEASE DONATE BITCOIN or LITECOIN to Support our efforts to waken the masses.
BITCOIN: 18TndrqgZfHjPf7vv78jygxKF6vPfG­wA7K
LITECOIN: LSxSujEYKCG6T78DrDpnpzwDusgzca­27as
BITCOIN WONT REPLACE the USD but will be the INTERNET CURRENCY for the WORLD
As 2013 came to an end, many reflected on last year's biggest tech news — and Bitcoin was a serious contender. But the main question remains: why are people interested in Bitcoin?
This whole debate reappeared when Charlie Stross stated that "Bitcoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind — to damage states ability to collect tax and monitor their citizens financial transactions." Paul Krugman then quoted his post, neither denying nor approving this thought.
If major Bitcoin enthusiasts don't have any political agenda in mind, then what is the future of Bitcoin? At its heart, Bitcoin is a cryptocurrency that doesn't rely on any central bank. Bitcoins are just a chain of characters defined by algorithmic rules, and transactions are handled by the network of miners.
Yet, in a month's time, the value of a bitcoin went from $200 to more than $1,000 on all the exchanges. In other words, it is as volatile as it can get. Right now, there are only around 12 million of bitcoins in circulation, and many Bitcoin holders are recent converts that buy and sell every day. So how could you think about using bitcoins to pay the rent? You could simply hold your bitcoins and expect to triple your wallet value in a couple of weeks instead.
That's why I believe Bitcoin isn't the next world currency. Bitcoin's true purpose is not what everyone originally expected — you won't buy a pizza in bitcoins anytime soon. Moreover, Bitcoin won't be able to remain an unregulated currency for long.
So Bitcoin's true purpose lies somewhere else. As Bitcoin is a peer-to-peer payment network, you don't need any banking institution to make large transfers. Bitcoin could become the first meta-currency that sits on top of traditional currencies, the common language between USD and EUR. That's what Dixon finds interesting, Bitcoin is as much a money transfer protocol as a currency. And it has the potential of disrupting the traditional banking system.
U.S. Senate informational panels deemed it legitimate. Detractors dismiss it as unstable and a vehicle for criminal trade. China has banned new deposits on its largest exchange.
Bitcoin began in 2009 as an electronic payment system and currency allowing for peer-to-peer payments and financial exchanges without financial regulation or a third party, such as a bank. Users establish an online wallet using their local currency and exchange with other bitcoin owners.
Recent days have brought headlines about Chinese authorities clamping down on Bitcoin — not wanting various institutions to deal in the digital currency.
The latest is that BTC China, the big Bitcoin startup there, announced that it could no longer accept deposits in the local currency.
This makes sense. One of the big things that everyone was talking about was how Bitcoin made for the perfect tool to circumvent capital controls (restrictions on getting money out of the country). bitcoin "accept bitcoin" "digital currency" government regulation p2p tech technology price "federal reserve" future foundation euro dollar usd "u.s. dollar" currency forex "bitcoin trading" litecoin "litecoin trading" internet consumer 2013 2014 media news code cryptocurrency "bitcoin mining" "bitcoin wallet" "bitcoin exchange" bank banking trading agenda elite gold silver bullion "sell gold" "gold trading" shopping wallet exchange "united states" u.s. usa america "agenda nwo" 5 years old learn how to supply demand price bitcoin accepted high risk gambling life savings central bank max keiser alex jones infowars gerald celente lindsey williams global currency reset david icke farrakhan speech bitcoin trends
So Bitcoin is getting crushed. Not that long ago it was above $1,000. Then it settled into around a $900 area, then it dropped to around $700.
Now it's around $500.
It seems the growing tensions in Asia (Japan-China sabre-rattling and Indian capital controls) have prompted more great rotation out of fiat and into digital currency as China/India markets open. For the first time ever, the price of one unit of Bitcoin exceeds the price of an ounce of gold...
The world currency market has lived through the outgoing year quite calmly. The new year promises moderate strengthening of commodity currencies, including the ruble. But experts have different opinions about the behavior of the main units of payment - the dollar and the euro. As for the new-fangled virtual currencies, which are rapidly gaining popularity, analysts predict that many of the so called cryptocurrencies may disappear.

duration:4:22

published:15 Jan 2014

updated:15 Jan 2014

views:144

How Sales Tax works for Payments Made with Bitcoin - Will's Whiteboard

Get more sales tax tips here: http://avlr.co/1yi0FNn
Today we are going to talk about bitcoin and sales tax. So when someone uses bitcoin to buy something. If you don't know what bitcoin is, there are a lot of great resources out there for you. We are going to focus on the tax today.
So bitcoin has been gaining popularity and been in the media more and more in the past couple of years. Unless you're a bitcoin aficionado or you've really researched it, you might have some questions about how it works related to tax, or you might even have some misunderstandings.
There's some businesses that think "Awesome, this is a new opportunity for us. If the market is going to be there, we want to start accepting bitcoin." Overstock.com, for example, is accepting bitcoin as a form of payment, and within the first two months that they did this, they did a million in sales of bitcoin transactions. But some businesses think that the scenario with bitcoin looks a bit like this.
In other words, that they can accept bitcoin and be there for the market and earn potential profit without having to do a lot of paperwork, less paperwork or maybe even no paperwork when it comes to sales tax. Well, it turns out, that's wrong. The way that the rules are written on the state and local level, basically any type of currency that you get to receive a good, most times you have to remit sales tax on that to the government. So you do have to do paperwork.
In fact, when it comes to bitcoin, it's even a little bit more burdensome because most states won't accept bitcoin as sales tax payment. So when you take bitcoin for a transaction, you've got to convert it into dollars, if you are in the U.S., then calculate the percentage of sales tax and then remit that to the government. So it can be almost the opposite here where there's a lot of paperwork and who knows about the profitability.
That is, unless you use a technology like AvaTax that automates sales tax for you. See AvaTax works with currencies like dollars, and it also works with bitcoin, which is a virtual currency. That way if you have sales tax automated, you don't have to worry about the paperwork and you can focus on the profit. I hope this helps explain bitcoin and sales tax.

duration:2:46

published:14 Oct 2014

updated:14 Oct 2014

views:191

Bitcoin and Australia's GST double tax

The Australian Tax Office wants to apply GST to Bitcoin as they see how current law applies. The reality is that we might need to create a new category for Bitcoin that allows it to be treated as money by Australian law. Visit http://www.bitrocket.co/tax/

duration:0:52

published:25 Aug 2014

updated:25 Aug 2014

views:1056

Tres Knippa: The Yen's Cliff Dive Has Started

Jason Burack of Wall St for Main St had on returning guest Tres Kippa / to talk about the Japanese Yen, the Japanese economy and the Japanese government bond market.
Tres is a longtime successful Chicago Mercantile Exchange (CME) floor trader and he started a fund that is structured so the individual investor can short the Japanese Yen and Japanese government bonds.
During this 30+ minute interview, Tres updates listeners about the Japanese economy and how GDP has come in under expectations because of higher inflation and because the Japanese government has just about doubled the VAT tax.
Jason and Tres talk about how Japan has a basic math problem. Japan's debt principle will never be paid back but now Japan is struggling to pay the interest payments on its debt with artificially low interest rates thanks to financial repression and Japan's central bank manipulating interest rates down.
Jason and Tres discuss the different possible ways Japan can keep the game going and avoid a bond market collapse.
Jason and Tres talk about how Japan is going to end up a case study for why Keynesian Economics aka Mercantilism does not work and how the best case scenario for Japan is stagflation.
Tres thinks shorting the Japanese Yen is a good hedge for Americans, gold investors and investors who think there will be much worse inflation all over the globe going forward.
Please visit the Wall St for Main St website here /
Follow Jason Burack on Twitter @JasonEBurack
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If you feel like donating fiat, Bitcoin, gold or silver, Wall St for Main St accepts donations on our main website.
Wall St for Main St is also available for personalized investor education and consulting! Please email us to learn more about it!Nick interviews Tres Knippa of Kenai Capital to discuss the case for the trading the short Japanese government bonds, the catalysts for the trade, and the best ways to go about. He also updates viewers on the internals of the gold market.
For More Information on Shorting JGBs:
For More Information on the BullsEye Trading strategy:
Jeff Interviews Tres Knippa, topics include: over-regulation crippling the markets, US real estate bubble, govt debt interest in Japan 50% of GDP, bonds following the Yen's devaluation, big opportunity to short this debt, short exposure to the Yen, AIG &n Goldman Sachs, US to follow Japan, long gold the safest bet.
/
tres@shortjapandebt.com
/
/Tres Knippa on CNBC discussing the stock market and discussing Japanese Government Bond Market
Join star traders Bob Iaccino and Tres Knippa at the Trader Outlook LIVE event of 2011 - Chicago, August 5-6 LIVE or via webcast.
Trader Outlook Live seminar will present the trading systems and strategies of two life long successful traders, financial analysts and CNBC experts -- Bob Iaccino and Tres Knippa, who are willing to share their successful strategies and trading tools with a limited number of traders who will join them live in Chicago or via webcast.
Bob and Tres are planning to spill the beans and teach every strategy and tactic they implement in their own trading from money and risk management, trendlines, unique patterns, current unique opportunities, specific indicators and much more.
Both traders have a long trading history of 18 years and are being interviewed on a weekly basis by major TV channels.
Bob Iacchino, a Master Technical Analyst is a veteran of bank trading rooms and hedge funds, has done 500+ Interviews on CNBC, Fox Biz, Bloomberg, etc.
Tres Knippa. MIT graduate, is a Chicago Pit trader Managed Fund and Brokerage Principal. He is a Commodity Expert with a Japan trade and has done 100+ Interviews on CNBC, Fox Biz, Bloomberg, etc..
Limited seats are still available for the live event that can host 1

duration:36:34

published:30 Dec 2014

updated:30 Dec 2014

views:20

[19] Why Bitcoin Crypto-Keys Are Free Speech; and How to Crowd out Market Volatility

check us out on Facebook
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Here's what's in your Prime Interest today:
Good afternoon. Welcome to Prime Interest.
Who would have thought? Banks are writing their own legislation. That's what a New York Times article reveals. One bill in particular is carving out exemptions for trades from new regulation.
According to the Times, the bill, which -- quote -- "was essentially Citigroup's," sailed through the House Financial Services Committee. And, "Citigroup's recommendations were reflected in more than 70 lines of the House committee's 85-line bill." While this probably comes as no surprise, the trend of banks currying increasing influence is getting noticed. Which is probably not good for Mr. Dimon, et al.
And, embattled hedge fund mogul, Stevie Cohen continues to face pressure for possible criminal insider trading charges. This, after he recently had to pay $600 million to the S-E-C to settle civil charges. Four senior executives were given subpoenas to testify before a grand jury. Many are looking to this case as a bellwether for the largely unregulated hedge fund industry. Seems the top dogs in this finance sector are *not* too-big-to-jail.
Finally, Japan's money printer in chief said he would do more to curb volatility in its domestic bond market. Since commencing the most aggressive QE program in history, the Yen has lost more than 32% of its value relative to the Dollar. And bond yields have spiked the most in decades.
But the Nikkei stock index is also up substantially -- until recently, that is -- when it crashed an eye-watering 7.3% in a single day. It's a tough gig for central bankers who want to have their cake and eat it too.
And here's what's in your Prime Interest.

duration:28:02

published:25 May 2013

updated:25 May 2013

views:2277

Michael Parsons, Bitcoin Adviser & Entrepreneur

Michael Parsons, Bitcoin Adviser & Entrepreneur. Michael is a Bitcoin Entrepreneur, Advisor and experienced Presenter. Michael is counter-regulation and believes that he has an alternative to the conventional regulatory approach for Bitcoin.
Speaking at our October Monthly FinTech Seminar on Bitcoin: http://www.meetup.com/newfinance/events/141265952/
Event Sponsors:
miiCard http://www.miicard.com
O'Reilly Media http://www.oreilly.com/
The London Bitcoin Meetup http://www.meetup.com/London-bitcoin-meetup/

duration:14:51

published:27 Oct 2013

updated:27 Oct 2013

views:27808

Good Morning Bitcoin - More Gox and a Dogecoin Buffet with a side of Zerocoin RTBTC

March 4, 2014 -- Pierre, South Dakota -- MadBitcoins: America's Real Choice. MadBitcoins Subscriber Index 2907. Here are Today's MadBits: a Bitcoin uptrend seems to be developing. With BitcoinWisdom reporting Bitstamp LIVE with a Last of $677, a High of $698 and a Low of $653.
This episode of MadBitcoins is sponsored by Viewers Like You! Special thanks to Donors 0.00099182, 0.0007, 0.005 and 0.01 -- MadBitcoins thanks you for your generous support.
1.) The Statements From People Who Lost Their Money On Mt Gox Are Seriously Sad
http://www.businessinsider.com.au/mt-gox-commenters-2014-3
2.) Bitcoin has theory and history on its side
http://www.goldmadesimplenews.com/analysis/bitcoin-has-theory-and-history-on-its-side-12572/
3.) Japan considers Bitcoin tax after MtGox failure
http://www.google.com/hostednews/afp/article/ALeqM5iEHcLGSrkDWbZfyvl9xyrtBdSZWg?docId=06c65a90-d000-4a1f-9bcd-95f061fb1e8e
4.) Bitcoin exchange Mt. Gox's collapse could ultimately help virtual currency industry
http://www.financialexpress.com/news/bitcoin-exchange-mt.-goxs-collapse-could-ultimately-help-virtual-currency-industry/1230965
5.) Will Bitcoin's Libertarians Pay for Private Deposit Insurance?
http://www.businessweek.com/articles/2014-03-03/will-bitcoins-libertarians-pay-for-private-deposit-insurance
6.) Mt Gox blames hackers for loss
http://www.zdnet.com/mt-gox-blames-hackers-for-loss-7000026952/
7.) Mt. Gox finally tells its side of the story after $500 million in Bitcoin vanishes
http://bgr.com/2014/03/03/mt-gox-statement-bankruptcy-bitcoin/
8.) Iceland's Auroracoin Passes Litecoin, Becomes Third Largest Altcoin by Market Cap
http://www.coindesk.com/icelands-auroracoin-passes-litecoin-becomes-third-largest-altcoin-market-cap/
9.) London Student Mines Dogecoin With University's Computers -- They Don't Know, Yet
http://www.coindesk.com/london-student-mines-dogecoin-university-computers-dont-know/
10.) Warren Buffett: Bitcoin is Not a Currency
http://www.coindesk.com/warren-buffet-bitcoin-currency/
11.) Polish Soccer Club to Accept Bitcoin for Tickets and Merchandise
http://www.coindesk.com/polish-soccer-club-accept-bitcoin-tickets-and-merchandise/
12.) Bitcoin Foundation Sets Record Straight on New UK Office
http://www.coindesk.com/bitcoin-foundation-record-straight-uk-office/
13.) BTC China Launches Litecoin Trading Thanks to Lee Brothers
http://www.coindesk.com/btc-china-launches-litecoin-trading-thanks-lee-brothers/
14.) ZeroBlock Acquires Bitcoin Forex Trading Platform RTBTC
https://blog.blockchain.com/2014/03/04/zeroblock-rtbtc/

duration:87:36

published:04 Mar 2014

updated:04 Mar 2014

views:0

Fincen causes an earthquake by regulating Bitcoin

Today we talk about how the Money2020 conference became one of the most most important payment conference in the world in just a few years. Faisal Khan talks about the interesting moves Poynt has made recently and why they are in a great position. We also touched on the recent Fincen Ruling around Bitcoin, why MCX server hacking could put them in the grave and the ever growing Starbucks payment ecosystem.

Rick Falkvinge doesn’t want to stand here in 20 years, saying Bitcoin was once legal

Rick Falkvinge, founder of the Swedish Pirate Party, draws parallels between the way the legacy financial industry treats bitcoin, the church treated the printing press and the copyright industry treat file sharing. Rick doesn’t want to stand here in 20 years, saying that Bitcoin was once legal. He sums up the lessons crypto-currency enthousiast can learn from the fights in the past.
Five key lessons:
1) Don’t accept their authority over your trade
2) You owe legacy finance nothing
3) Counter the public narrative
4) Look credible
5) Assert Analog Equivalent Rights
Presentation includes 13 minutes of Q&A including a question asked at 31:44 to Teunis Brosens, an ING banker who spoke before Rick. Teunis admits Bitcoin is a potential competitor to banks and he does see a future for crypto-currencies.
More info at:
https://twitter.com/Falkvinge
http://www.geldvoordetoekomst

duration:43:25

published:02 Oct 2014

updated:02 Oct 2014

views:1768

IRS Rules Bitcoin is Property and Subject to Capital Gains Tax

The Internal Revenue Service has determined that bitcoin will be treated as property, not currency. In its first big ruling on the virtual currency on Tuesday, the IRS said that bitcoin does not have "legal tender status." As a result of bitcoin being regarded as property, it can be treated as capital assets, governed by the same rules as stocks and bonds. In addition, the IRS said that people who receive wages in bitcoins would also be subject to federal income and payroll taxes.
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duration:0:55

published:28 Mar 2014

updated:28 Mar 2014

views:234

Bitcoin and cryptocurrency markets: Part 1

The fact that there are now approximately 5 million in Bitcoin wallets, and Bitcoins are now accepted at big e-commerce sites like Amazon.com, Overstock.com, and TigerDirect.com, and in brick and mortar stores such as Home Depot, CVS, Kmart and Sears, proves there is definitely a burgeoning interest in cryptocurrencies. This session is hosted by one of the biggest investors in Bitcoin startups and includes some of the most promising private companies in the space.
Host: Adam Draper, CEO, Boost
Jacob Hansen, CEO & Co-Founder, CrowdCurity
Avish Bhama, Co-Founder & CEO, Vaurum
Steven Sprague, CEO, Rivetz
Steve Beauregard, CEO, GoCoin.com

Japan finance minister: Gathering facts on bitcoin, unsure whether crime involved
Japanese Finance Minister Taro Aso said on Tuesday that the government is still trying to figure out what has led to the collapse of the Tokyo-based bitcoin exchange Mt. Gox and is not sure whether crime is involved.
"We still have not had a clear grasp of the situation," Aso said in response to a reporter's question after a cabinet meeting. "(We) don't know if it was a crime or just a bankruptcy."
Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual currency due to hacking into its faulty computer system.
Thanks for comment, subscribe to updates http://goo.gl/8faygM and More news follow Twitter @newsdailyplanet

Reason.tv's Nick Gillespie sat down recently with Patrick Byrne, the CEO of Overstock.com, the online retailer famous for sexy ads ("It's all about the O"), low, low prices, and hyperattentive customer service.
Born in 1962 and now living in Utah, Byrne holds a Ph.D. in philosophy from Stanford and serves as the co-chair (with Rose Friedman) of the Friedman Foundation for Educational Choice. He is the former manager of Blackhawk Investment, a cancer survivor, and a black belt in tae kwon do.
An outspoken critic of online sales taxes, Byrne is a self-declared libertarian who champions short-selling while adamantly opposing the more-controversial practice of "naked" short-selling.
From his journalistic perch at the blog Deep Capture, he and his colleagues regularly chart the ways in which regulators routinely stifle innovation and maintain a status quo that favors connected firms at the cost of competitors and consumers alike.
Raised in New Hampshire, Byrne describes himself as a former "Yankee Republican" who has never felt comfortable with anti-market Democrats and no longer recognizes the GOP as the party of small government and individual liberty.
In this 10-minute interview, Byrne explains why school choice is the key issue of our day, how bad regulations contributed to the current economic crisis, and why "the government should pave the roads, run the Post Office, and stay off my porch."
Filmed by Dan Hayes and edited by Meredith Bragg.

U.S. ATTACKS World's Largest BITCOIN Exchange - Is This The END of BITCOIN?

U.S. ATTACKS World's Largest BITCOIN Exchange - Is This The END of BITCOIN?
Subscribe here for more Max Keiser & Financial crisis news:
More bumps in the road are probably in store for Bitcoin. The virtual currency has seen some massive swings in value over the last several weeks, but that volatility is not likely to end soon, its lead developer suggested on Saturday.
"We've been on a roller coaster ride," said Gavin Andresen, chief scientist at the Bitcoin Foundation, which provides much of the core backend development for the currency.
"I expect for the next few years we're going to remain on a roller coaster ride," he said, speaking in front of a packed room of developers, enthusiasts, venture capitalists and other industry players at Bitcoin 2013, the first conference in Silicon Valley to be held on the topic.
Bitcoin is a digital currency that is managed and traded on a peer-to-peer computer network. Often referred to as a form of "crypto-currency," it is intended to be a decentralized form of payment not regulated by any financial institution or governmental body. A variety of online retailers and a growing number of brick-and-mortar stores are now accepting Bitcoins, which can either be purchased through exchanges on the Internet or "mined" by using specialized hardware.
Hitting some bumps
But the growing attention the currency has experienced has come with numerous setbacks as well, in the form of hacks, the shutdown of various exchanges, seizure of accounts and huge selloffs in Bitcoin.
In March, Bitcoins were trading for roughly US$30. Then for a brief period in April its price on the Tokyo-based exchange Mt. Gox skyrocketed to over $230. A couple of days later, its value plummeted to roughly $120 as a massive sell off forced Mt. Gox to temporarily shut down.
This past week, Mt. Gox received a seizure order of its funds by the Department of Homeland Security, triggered by an alleged failure to comply with U.S. financial regulations.
Despite the challenges, Bitcoin's Andresen is not deterred. "We have to be reliable and resilient," he said. The foundation, which currently just has two full-time staff, is looking to hire a Washington lawyer this year to engage with politicians and to help support the currency's growth.
Hundreds of attendees are at the Bitcoin conference, with roughly 20 exhibitors offering a range of Bitcoin-related products such as digital wallets, specialized trading services, and analytical tools.
"Star power" has even been provided by Tyler and Cameron Winklevoss , the brothers claiming ownership of the idea for Facebook, who delivered the opening keynote on Friday night
Bitcoin supporters promise banking 'revolution'
Some workers are now even being paid with new virtual currency that you can only spend online.
Bitcoin threatens both the financial elite's monopoly over the economy and the online web of payment systems which have been used as a tool to crack down on free speech on the Internet, Amir Taaki, a bitcoin software developer, told RT.
On Wednesday, The US Department of Homeland Security seized a payment processing account belonging to Mt. Gox, the largest international Bitcoin trader over claims the monetary exchange service had falsified financial documents.
The US government has never hidden the fact that it is closely watching the virtual currency, which international regulators have thus far failed to keep a lid on.
But while banks and governments have treated the Bitcoin payment system as an "existential threat" to current financial system, Taaki argues that the virtual currency epitomizes real free trade and is a necessary tool to maximize the benefits of a free and open market.
Amir Taaki: The basic gist of it is, there is this network of people worldwide, and any person that joins the Bitcoin network is responsible for upholding it. The Bitcoin is actually a form of money, like the dollar, euro or pound, but it's virtual currency
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Burton High Fives - Competitions Start Tomorrow

Press Release: TUNE IN: Watch the Second Annual Burton High Fives snowboarding competition LIVE on on September 12 and 13 WHAT: The second annual Burton 'High Fives' presented by MINI snowboarding competition, is now underway at Cardrona Alpine Resort in Wanaka, New Zealand. A live webcast of the slopestyle and halfpipe competitions will be on with the slopestyle coverage... more